From 870af72397e9faee7ab59f50b5c462ce4bb427d1 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 11:51:28 +0100 Subject: [PATCH 01/16] Create bip-tbd.md --- bip-tbd.md | 144 +++++++++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 144 insertions(+) create mode 100644 bip-tbd.md diff --git a/bip-tbd.md b/bip-tbd.md new file mode 100644 index 0000000000..faefa93398 --- /dev/null +++ b/bip-tbd.md @@ -0,0 +1,144 @@ +BIP: ?
+Title: Redefinition of the Bitcoin Unit to the Base Denomination
+Author: John Carvalho
+Status: Draft
+Type: Informational
+Created: 2024-12-10
+License: CC0-1.0
+ +# Abstract + +This BIP proposes redefining the commonly recognized "bitcoin" unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit. Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP aims to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. + +# Motivation + +The current convention defines one bitcoin as 100,000,000 of the smallest indivisible units. This representation requires dealing with eight decimal places, which can be confusing and foster the misconception that bitcoin is inherently decimal-based. In reality, Bitcoin’s ledger represents values as integers of a smallest unit, and the decimal point is merely a human-imposed abstraction. + +By redefining the smallest unit as "one bitcoin," this BIP aligns user perception with the protocol’s true nature. It reduces cognitive overhead, ensures users understand Bitcoin as counting discrete units, and ultimately improves educational clarity and user experience. + +# Specification + +**Redefinition of the Unit:** + +- Internally, the smallest indivisible unit remains unchanged. +- Historically, 1 bitcoin = 100,000,000 base units. Under this proposal, "1 bitcoin" equals that smallest unit. +- What was previously referred to as "1 bitcoin" now corresponds to 100 million bitcoins under the new definition. + +**Terminology:** + +- The informal terms "satoshi" or "sat" are deprecated. +- All references, interfaces, and documentation SHOULD refer to the base integer unit simply as "bitcoin." +- The currency code "BTC" is unaffected by these changes, and continues to mean 100,000,000 base units. + +**Display and Formatting:** + +- Applications SHOULD allow users to toggle between the legacy BTC format (1 BTC = 100,000,000 base units) and the new integral format (1 bitcoin = 1 base unit). +- Use of the ₿ symbol MAY be used to represent base-unit bitcoins but is OPTIONAL. + +Example 1: + + - Old display: `0.00010000 Bitcoin` + - New display: `₿10,000` or `10,000 bitcoins` or `0.00010000 BTC` + +Example 2: + + - Old display: `10.23486 Bitcoin` + - New display: `₿1,023,486,000` or `1,023,486,000 bitcoins` or `10.23486 BTC` + +Example 3: + + - Old display: `0.345 BTC` + - New display: No changes required or `₿34,500,000` or `34,500,000 bitcoins` + +NOTE: Traditional number display abbreviations, like `2.5M` for millions, are also optional. + +**Conversion:** + +- Ledger and consensus rules remain unchanged. +- `BTC` as a currency code remains unchanged (1 BTC = 100,000,000 base units) +- Implementations adopting this standard MUST multiply previously displayed Bitcoin amounts by 100,000,000 to determine the new integer representation. + +# Rationale + +**Usability:** +Integer-only displays simplify mental arithmetic and reduce potential confusion or user error. + +**Protocol Alignment:** +The Bitcoin protocol inherently counts discrete units. Removing the artificial decimal format aligns user perception with Bitcoin’s actual integral design. + +**Educational Clarity:** +Presenting integers ensures newcomers do not mistakenly assume that Bitcoin’s nature is decimal-based. It conveys Bitcoin’s true design from the start. + +**Future-Proofing:** +Adopting the smallest unit as the primary measure ensures a consistent standard that can scale smoothly as Bitcoin adoption grows. + +**Perception of Supply:** +While the total count of base units is roughly 2.1 quadrillion, this proposal does not alter supply in any way. The change is purely representational. Comparisons can be drawn to other currencies like the Japanese yen or Indonesian rupiah, where high unit counts are standard and not perceived as inflationary. + +# Addressing Alternative Approaches + +## Refuting the "Bits" Proposal ([BIP 176](https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki)) + +An alternative suggestion (BIP 176) proposes using "bits" to represent one-millionth of a bitcoin (100 satoshis). While this reduces the number of decimal places in certain contexts, it fails to fully address the core issues our BIP aims to solve: + +1. **Persistent Decimal Mindset:** + Using "bits" still retains a layered decimal approach, requiring users to think in terms of multiple denominations (BTC and bits). This shifts complexity rather than eliminating it. + +2. **Inconsistent User Experience:** + Users must learn to toggle between BTC for large amounts and bits for small amounts. Instead of providing a unified view of value, it fragments the user experience. + +3. **Incomplete Alignment with the Protocol’s Nature:** + The "bits" proposal does not realign the displayed value with the integral nature of Bitcoin’s ledger. It continues to rely on fractional units, masking the fundamental integer-based accounting that Bitcoin employs. + +4. **Not Permanently Future-Proof:** + Though "bits" may simplify certain price ranges, future circumstances could demand additional denominations or scaling adjustments. Our integral approach resolves this problem entirely by making the smallest unit the standard measure, avoiding future fragmentation. + +In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. + +# Backward Compatibility + +No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: + +- **For Developers:** + Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. `BTC` units remain unchanged. + +- **For Users:** + The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. + +# Security Considerations + +A short-term risk of confusion exists as users adapt to the new representation. Users accustomed to decimals may misinterpret initial displays. To mitigate this: + +- Offer dual displays and tooltips during the transition. +- Provide clear educational materials and coordinated messaging. +- Use alerts or confirmations in applications if input values appear unexpectedly large or small. +- Highlight the unchanging 21M BTC supply cap and equivalence to avoid misinterpretation as inflationary. + +# Reference Implementation + +Some wallets, such as Bitkit, have successfully adopted integer-only displays, demonstrating the feasibility of this approach, without incident. Transitional features — like showing both old and new formats side-by-side — can help smooth the transition. + +# Test Vectors + +- Old: `1.00000000 Bitcoin` → New: ₿100,000,000 (or 100,000,000 bitcoins) +- Old: `0.00010000 Bitcoin` → New: ₿10,000 (or 10,000 bitcoins) +- Old: `0.00500000 Bitcoin` → New: ₿500,000 (or 500,000 bitcoins) +- Old: `0.005 BTC` → New: `0.005 BTC` (or ₿500,000 or 500,000 bitcoins) + +All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. + +# Implementation Timeline + +**Phase 1 (3-6 months):** Introduce the concept, provide dual displays and educational materials. Begin pilot testing in willing wallet apps. + +**Phase 2 (6-12 months):** Prominent services adopt integer-only displays by default. Community coordination and media campaigns ensure consistency. + +**Phase 3 (12+ months):** Integer representation becomes standard. Documentation and user guides no longer reference decimal-based formats. + +# Conclusion + +Redefining the "bitcoin" unit as the smallest indivisible unit and removing decimal-based representations simplifies comprehension and aligns displayed values with the protocol’s integral accounting. While a transition period may be necessary, the long-term benefits include clearer communication, reduced confusion, and a more accurate understanding of Bitcoin’s fundamental design. + +# Copyright + +This BIP is licensed under CC0-1.0. From 7400d29ce473851324637c636764d9c357d3d49e Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 11:54:04 +0100 Subject: [PATCH 02/16] Delete bip-tbd.md --- bip-tbd.md | 144 ----------------------------------------------------- 1 file changed, 144 deletions(-) delete mode 100644 bip-tbd.md diff --git a/bip-tbd.md b/bip-tbd.md deleted file mode 100644 index faefa93398..0000000000 --- a/bip-tbd.md +++ /dev/null @@ -1,144 +0,0 @@ -BIP: ?
-Title: Redefinition of the Bitcoin Unit to the Base Denomination
-Author: John Carvalho
-Status: Draft
-Type: Informational
-Created: 2024-12-10
-License: CC0-1.0
- -# Abstract - -This BIP proposes redefining the commonly recognized "bitcoin" unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit. Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP aims to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. - -# Motivation - -The current convention defines one bitcoin as 100,000,000 of the smallest indivisible units. This representation requires dealing with eight decimal places, which can be confusing and foster the misconception that bitcoin is inherently decimal-based. In reality, Bitcoin’s ledger represents values as integers of a smallest unit, and the decimal point is merely a human-imposed abstraction. - -By redefining the smallest unit as "one bitcoin," this BIP aligns user perception with the protocol’s true nature. It reduces cognitive overhead, ensures users understand Bitcoin as counting discrete units, and ultimately improves educational clarity and user experience. - -# Specification - -**Redefinition of the Unit:** - -- Internally, the smallest indivisible unit remains unchanged. -- Historically, 1 bitcoin = 100,000,000 base units. Under this proposal, "1 bitcoin" equals that smallest unit. -- What was previously referred to as "1 bitcoin" now corresponds to 100 million bitcoins under the new definition. - -**Terminology:** - -- The informal terms "satoshi" or "sat" are deprecated. -- All references, interfaces, and documentation SHOULD refer to the base integer unit simply as "bitcoin." -- The currency code "BTC" is unaffected by these changes, and continues to mean 100,000,000 base units. - -**Display and Formatting:** - -- Applications SHOULD allow users to toggle between the legacy BTC format (1 BTC = 100,000,000 base units) and the new integral format (1 bitcoin = 1 base unit). -- Use of the ₿ symbol MAY be used to represent base-unit bitcoins but is OPTIONAL. - -Example 1: - - - Old display: `0.00010000 Bitcoin` - - New display: `₿10,000` or `10,000 bitcoins` or `0.00010000 BTC` - -Example 2: - - - Old display: `10.23486 Bitcoin` - - New display: `₿1,023,486,000` or `1,023,486,000 bitcoins` or `10.23486 BTC` - -Example 3: - - - Old display: `0.345 BTC` - - New display: No changes required or `₿34,500,000` or `34,500,000 bitcoins` - -NOTE: Traditional number display abbreviations, like `2.5M` for millions, are also optional. - -**Conversion:** - -- Ledger and consensus rules remain unchanged. -- `BTC` as a currency code remains unchanged (1 BTC = 100,000,000 base units) -- Implementations adopting this standard MUST multiply previously displayed Bitcoin amounts by 100,000,000 to determine the new integer representation. - -# Rationale - -**Usability:** -Integer-only displays simplify mental arithmetic and reduce potential confusion or user error. - -**Protocol Alignment:** -The Bitcoin protocol inherently counts discrete units. Removing the artificial decimal format aligns user perception with Bitcoin’s actual integral design. - -**Educational Clarity:** -Presenting integers ensures newcomers do not mistakenly assume that Bitcoin’s nature is decimal-based. It conveys Bitcoin’s true design from the start. - -**Future-Proofing:** -Adopting the smallest unit as the primary measure ensures a consistent standard that can scale smoothly as Bitcoin adoption grows. - -**Perception of Supply:** -While the total count of base units is roughly 2.1 quadrillion, this proposal does not alter supply in any way. The change is purely representational. Comparisons can be drawn to other currencies like the Japanese yen or Indonesian rupiah, where high unit counts are standard and not perceived as inflationary. - -# Addressing Alternative Approaches - -## Refuting the "Bits" Proposal ([BIP 176](https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki)) - -An alternative suggestion (BIP 176) proposes using "bits" to represent one-millionth of a bitcoin (100 satoshis). While this reduces the number of decimal places in certain contexts, it fails to fully address the core issues our BIP aims to solve: - -1. **Persistent Decimal Mindset:** - Using "bits" still retains a layered decimal approach, requiring users to think in terms of multiple denominations (BTC and bits). This shifts complexity rather than eliminating it. - -2. **Inconsistent User Experience:** - Users must learn to toggle between BTC for large amounts and bits for small amounts. Instead of providing a unified view of value, it fragments the user experience. - -3. **Incomplete Alignment with the Protocol’s Nature:** - The "bits" proposal does not realign the displayed value with the integral nature of Bitcoin’s ledger. It continues to rely on fractional units, masking the fundamental integer-based accounting that Bitcoin employs. - -4. **Not Permanently Future-Proof:** - Though "bits" may simplify certain price ranges, future circumstances could demand additional denominations or scaling adjustments. Our integral approach resolves this problem entirely by making the smallest unit the standard measure, avoiding future fragmentation. - -In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. - -# Backward Compatibility - -No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: - -- **For Developers:** - Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. `BTC` units remain unchanged. - -- **For Users:** - The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. - -# Security Considerations - -A short-term risk of confusion exists as users adapt to the new representation. Users accustomed to decimals may misinterpret initial displays. To mitigate this: - -- Offer dual displays and tooltips during the transition. -- Provide clear educational materials and coordinated messaging. -- Use alerts or confirmations in applications if input values appear unexpectedly large or small. -- Highlight the unchanging 21M BTC supply cap and equivalence to avoid misinterpretation as inflationary. - -# Reference Implementation - -Some wallets, such as Bitkit, have successfully adopted integer-only displays, demonstrating the feasibility of this approach, without incident. Transitional features — like showing both old and new formats side-by-side — can help smooth the transition. - -# Test Vectors - -- Old: `1.00000000 Bitcoin` → New: ₿100,000,000 (or 100,000,000 bitcoins) -- Old: `0.00010000 Bitcoin` → New: ₿10,000 (or 10,000 bitcoins) -- Old: `0.00500000 Bitcoin` → New: ₿500,000 (or 500,000 bitcoins) -- Old: `0.005 BTC` → New: `0.005 BTC` (or ₿500,000 or 500,000 bitcoins) - -All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. - -# Implementation Timeline - -**Phase 1 (3-6 months):** Introduce the concept, provide dual displays and educational materials. Begin pilot testing in willing wallet apps. - -**Phase 2 (6-12 months):** Prominent services adopt integer-only displays by default. Community coordination and media campaigns ensure consistency. - -**Phase 3 (12+ months):** Integer representation becomes standard. Documentation and user guides no longer reference decimal-based formats. - -# Conclusion - -Redefining the "bitcoin" unit as the smallest indivisible unit and removing decimal-based representations simplifies comprehension and aligns displayed values with the protocol’s integral accounting. While a transition period may be necessary, the long-term benefits include clearer communication, reduced confusion, and a more accurate understanding of Bitcoin’s fundamental design. - -# Copyright - -This BIP is licensed under CC0-1.0. From 5c87d1f4fa651cdec7f71cfb037b206ea1642412 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 11:55:17 +0100 Subject: [PATCH 03/16] Redefine bitcoin base unit to smallest unit Propose BIP 21Q: Redefine bitcoin base unit to smallest indivisible unit --- bip-tbd.mediawiki | 144 ++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 144 insertions(+) create mode 100644 bip-tbd.mediawiki diff --git a/bip-tbd.mediawiki b/bip-tbd.mediawiki new file mode 100644 index 0000000000..e90b640e69 --- /dev/null +++ b/bip-tbd.mediawiki @@ -0,0 +1,144 @@ +BIP: ?
+Title: Redefinition of the Bitcoin Unit to the Base Denomination
+Author: John Carvalho
+Status: Draft
+Type: Informational
+Created: 2024-12-10
+License: CC0-1.0
+ += Abstract + +This BIP proposes redefining the commonly recognized "bitcoin" unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit. Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP aims to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. + += Motivation + +The current convention defines one bitcoin as 100,000,000 of the smallest indivisible units. This representation requires dealing with eight decimal places, which can be confusing and foster the misconception that bitcoin is inherently decimal-based. In reality, Bitcoin’s ledger represents values as integers of a smallest unit, and the decimal point is merely a human-imposed abstraction. + +By redefining the smallest unit as "one bitcoin," this BIP aligns user perception with the protocol’s true nature. It reduces cognitive overhead, ensures users understand Bitcoin as counting discrete units, and ultimately improves educational clarity and user experience. + += Specification + +'''Redefinition of the Unit:''' + +* Internally, the smallest indivisible unit remains unchanged. +* Historically, 1 bitcoin = 100,000,000 base units. Under this proposal, "1 bitcoin" equals that smallest unit. +* What was previously referred to as "1 bitcoin" now corresponds to 100 million bitcoins under the new definition. + +'''Terminology:''' + +* The informal terms "satoshi" or "sat" are deprecated. +* All references, interfaces, and documentation SHOULD refer to the base integer unit simply as "bitcoin." +* The currency code "BTC" is unaffected by these changes, and continues to mean 100,000,000 base units. + +'''Display and Formatting:''' + +* Applications SHOULD allow users to toggle between the legacy BTC format (1 BTC = 100,000,000 base units) and the new integral format (1 bitcoin = 1 base unit). +* Use of the ₿ symbol MAY be used to represent base-unit bitcoins but is OPTIONAL. + +Example 1: + + * Old display: 0.00010000 Bitcoin + * New display: ₿10,000 or 10,000 bitcoins or 0.00010000 BTC + +Example 2: + + * Old display: 10.23486 Bitcoin + * New display: ₿1,023,486,000 or 1,023,486,000 bitcoins or 10.23486 BTC + +Example 3: + + * Old display: 0.345 BTC + * New display: No changes required or ₿34,500,000 or 34,500,000 bitcoins + +NOTE: Traditional number display abbreviations, like 2.5M for millions, are also optional. + +'''Conversion:''' + +* Ledger and consensus rules remain unchanged. +* BTC as a currency code remains unchanged (1 BTC = 100,000,000 base units) +* Implementations adopting this standard MUST multiply previously displayed Bitcoin amounts by 100,000,000 to determine the new integer representation. + += Rationale + +'''Usability:''' +Integer-only displays simplify mental arithmetic and reduce potential confusion or user error. + +'''Protocol Alignment:''' +The Bitcoin protocol inherently counts discrete units. Removing the artificial decimal format aligns user perception with Bitcoin’s actual integral design. + +'''Educational Clarity:''' +Presenting integers ensures newcomers do not mistakenly assume that Bitcoin’s nature is decimal-based. It conveys Bitcoin’s true design from the start. + +'''Future-Proofing:''' +Adopting the smallest unit as the primary measure ensures a consistent standard that can scale smoothly as Bitcoin adoption grows. + +'''Perception of Supply:''' +While the total count of base units is roughly 2.1 quadrillion, this proposal does not alter supply in any way. The change is purely representational. Comparisons can be drawn to other currencies like the Japanese yen or Indonesian rupiah, where high unit counts are standard and not perceived as inflationary. + += Addressing Alternative Approaches + +== Refuting the "Bits" Proposal ([https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki BIP 176]) + +An alternative suggestion (BIP 176) proposes using "bits" to represent one-millionth of a bitcoin (100 satoshis). While this reduces the number of decimal places in certain contexts, it fails to fully address the core issues our BIP aims to solve: + +1. '''Persistent Decimal Mindset:''' + Using "bits" still retains a layered decimal approach, requiring users to think in terms of multiple denominations (BTC and bits). This shifts complexity rather than eliminating it. + +2. '''Inconsistent User Experience:''' + Users must learn to toggle between BTC for large amounts and bits for small amounts. Instead of providing a unified view of value, it fragments the user experience. + +3. '''Incomplete Alignment with the Protocol’s Nature:''' + The "bits" proposal does not realign the displayed value with the integral nature of Bitcoin’s ledger. It continues to rely on fractional units, masking the fundamental integer-based accounting that Bitcoin employs. + +4. '''Not Permanently Future-Proof:''' + Though "bits" may simplify certain price ranges, future circumstances could demand additional denominations or scaling adjustments. Our integral approach resolves this problem entirely by making the smallest unit the standard measure, avoiding future fragmentation. + +In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. + += Backward Compatibility + +No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: + +* '''For Developers:''' + Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. + +* '''For Users:''' + The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. + += Security Considerations + +A short-term risk of confusion exists as users adapt to the new representation. Users accustomed to decimals may misinterpret initial displays. To mitigate this: + +* Offer dual displays and tooltips during the transition. +* Provide clear educational materials and coordinated messaging. +* Use alerts or confirmations in applications if input values appear unexpectedly large or small. +* Highlight the unchanging 21M BTC supply cap and equivalence to avoid misinterpretation as inflationary. + += Reference Implementation + +Some wallets, such as Bitkit, have successfully adopted integer-only displays, demonstrating the feasibility of this approach, without incident. Transitional features — like showing both old and new formats side-by-side — can help smooth the transition. + += Test Vectors + +* Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) +* Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) +* Old: 0.00500000 Bitcoin → New: ₿500,000 (or 500,000 bitcoins) +* Old: 0.005 BTC → New: 0.005 BTC (or ₿500,000 or 500,000 bitcoins) + +All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. + += Implementation Timeline + +'''Phase 1 (3-6 months):''' Introduce the concept, provide dual displays and educational materials. Begin pilot testing in willing wallet apps. + +'''Phase 2 (6-12 months):''' Prominent services adopt integer-only displays by default. Community coordination and media campaigns ensure consistency. + +'''Phase 3 (12+ months):''' Integer representation becomes standard. Documentation and user guides no longer reference decimal-based formats. + += Conclusion + +Redefining the "bitcoin" unit as the smallest indivisible unit and removing decimal-based representations simplifies comprehension and aligns displayed values with the protocol’s integral accounting. While a transition period may be necessary, the long-term benefits include clearer communication, reduced confusion, and a more accurate understanding of Bitcoin’s fundamental design. + += Copyright + +This BIP is licensed under CC0-1.0. From 82292e7a69d72cf5663509dcbfff390bc5dbd232 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 11:56:02 +0100 Subject: [PATCH 04/16] Update bip-tbd.mediawiki --- bip-tbd.mediawiki | 14 +++++++------- 1 file changed, 7 insertions(+), 7 deletions(-) diff --git a/bip-tbd.mediawiki b/bip-tbd.mediawiki index e90b640e69..5f31c0c702 100644 --- a/bip-tbd.mediawiki +++ b/bip-tbd.mediawiki @@ -1,10 +1,10 @@ -BIP: ?
-Title: Redefinition of the Bitcoin Unit to the Base Denomination
-Author: John Carvalho
-Status: Draft
-Type: Informational
-Created: 2024-12-10
-License: CC0-1.0
+BIP: ? +Title: Redefinition of the Bitcoin Unit to the Base Denomination +Author: John Carvalho +Status: Draft +Type: Informational +Created: 2024-12-10 +License: CC0-1.0 = Abstract From 4178195042b3a2d5264b2b68c902fd2209ddce4a Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 11:59:11 +0100 Subject: [PATCH 05/16] Update bip-tbd.mediawiki --- bip-tbd.mediawiki | 42 ++++++++++++++++++++++-------------------- 1 file changed, 22 insertions(+), 20 deletions(-) diff --git a/bip-tbd.mediawiki b/bip-tbd.mediawiki index 5f31c0c702..973c43390a 100644 --- a/bip-tbd.mediawiki +++ b/bip-tbd.mediawiki @@ -1,22 +1,24 @@ -BIP: ? -Title: Redefinition of the Bitcoin Unit to the Base Denomination -Author: John Carvalho -Status: Draft -Type: Informational -Created: 2024-12-10 -License: CC0-1.0 - -= Abstract +
+  BIP: ? 
+  Title: Redefinition of the Bitcoin Unit to the Base Denomination 
+  Author: John Carvalho  
+  Status: Draft 
+  Type: Informational 
+  Created: 2024-12-10 
+  License: CC0-1.0
+
+ +===Abstract=== This BIP proposes redefining the commonly recognized "bitcoin" unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit. Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP aims to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. -= Motivation +===Motivation=== The current convention defines one bitcoin as 100,000,000 of the smallest indivisible units. This representation requires dealing with eight decimal places, which can be confusing and foster the misconception that bitcoin is inherently decimal-based. In reality, Bitcoin’s ledger represents values as integers of a smallest unit, and the decimal point is merely a human-imposed abstraction. By redefining the smallest unit as "one bitcoin," this BIP aligns user perception with the protocol’s true nature. It reduces cognitive overhead, ensures users understand Bitcoin as counting discrete units, and ultimately improves educational clarity and user experience. -= Specification +===Specification=== '''Redefinition of the Unit:''' @@ -58,7 +60,7 @@ NOTE: Traditional number display abbreviations, like 2.5M for millio * BTC as a currency code remains unchanged (1 BTC = 100,000,000 base units) * Implementations adopting this standard MUST multiply previously displayed Bitcoin amounts by 100,000,000 to determine the new integer representation. -= Rationale +===Rationale=== '''Usability:''' Integer-only displays simplify mental arithmetic and reduce potential confusion or user error. @@ -75,7 +77,7 @@ Adopting the smallest unit as the primary measure ensures a consistent standard '''Perception of Supply:''' While the total count of base units is roughly 2.1 quadrillion, this proposal does not alter supply in any way. The change is purely representational. Comparisons can be drawn to other currencies like the Japanese yen or Indonesian rupiah, where high unit counts are standard and not perceived as inflationary. -= Addressing Alternative Approaches +===Addressing Alternative Approaches=== == Refuting the "Bits" Proposal ([https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki BIP 176]) @@ -95,7 +97,7 @@ An alternative suggestion (BIP 176) proposes using "bits" to represent one-mil In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. -= Backward Compatibility +===Backward Compatibility=== No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: @@ -105,7 +107,7 @@ No consensus rules are altered, and on-chain data remains unchanged. Differences * '''For Users:''' The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. -= Security Considerations +===Security Considerations=== A short-term risk of confusion exists as users adapt to the new representation. Users accustomed to decimals may misinterpret initial displays. To mitigate this: @@ -114,11 +116,11 @@ A short-term risk of confusion exists as users adapt to the new representation. * Use alerts or confirmations in applications if input values appear unexpectedly large or small. * Highlight the unchanging 21M BTC supply cap and equivalence to avoid misinterpretation as inflationary. -= Reference Implementation +===Reference Implementation=== Some wallets, such as Bitkit, have successfully adopted integer-only displays, demonstrating the feasibility of this approach, without incident. Transitional features — like showing both old and new formats side-by-side — can help smooth the transition. -= Test Vectors +===Test Vectors=== * Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) * Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) @@ -127,7 +129,7 @@ Some wallets, such as Bitkit, have successfully adopted integer-only displays, d All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. -= Implementation Timeline +===Implementation Timeline=== '''Phase 1 (3-6 months):''' Introduce the concept, provide dual displays and educational materials. Begin pilot testing in willing wallet apps. @@ -135,10 +137,10 @@ All formerly fractional representations now directly correspond to whole-number '''Phase 3 (12+ months):''' Integer representation becomes standard. Documentation and user guides no longer reference decimal-based formats. -= Conclusion +===Conclusion=== Redefining the "bitcoin" unit as the smallest indivisible unit and removing decimal-based representations simplifies comprehension and aligns displayed values with the protocol’s integral accounting. While a transition period may be necessary, the long-term benefits include clearer communication, reduced confusion, and a more accurate understanding of Bitcoin’s fundamental design. -= Copyright +===Copyright=== This BIP is licensed under CC0-1.0. From 66e2fc5418d6ae1f135b0e00bbf61fac37b3c5ee Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 12:05:53 +0100 Subject: [PATCH 06/16] Update bip-tbd.mediawiki --- bip-tbd.mediawiki | 2 ++ 1 file changed, 2 insertions(+) diff --git a/bip-tbd.mediawiki b/bip-tbd.mediawiki index 973c43390a..1c5a6a94ee 100644 --- a/bip-tbd.mediawiki +++ b/bip-tbd.mediawiki @@ -8,6 +8,8 @@ License: CC0-1.0 +==Introduction== + ===Abstract=== This BIP proposes redefining the commonly recognized "bitcoin" unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit. Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP aims to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. From 31745dd60201c3f847d9f3e0e408c12fe9029f29 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 12:10:50 +0100 Subject: [PATCH 07/16] Update bip-tbd.mediawiki --- bip-tbd.mediawiki | 14 +++++++------- 1 file changed, 7 insertions(+), 7 deletions(-) diff --git a/bip-tbd.mediawiki b/bip-tbd.mediawiki index 1c5a6a94ee..ae3e1c96b2 100644 --- a/bip-tbd.mediawiki +++ b/bip-tbd.mediawiki @@ -1,11 +1,11 @@ 
-  BIP: ? 
-  Title: Redefinition of the Bitcoin Unit to the Base Denomination 
-  Author: John Carvalho  
-  Status: Draft 
-  Type: Informational 
-  Created: 2024-12-10 
-  License: CC0-1.0
+BIP: ?
+Title: Redefinition of the Bitcoin Unit to the Base Denomination
+Author: John Carvalho 
+Status: Draft
+Type: Informational
+Created: 2024-12-10
+License: CC0-1.0
==Introduction== From 659464523d1b59bbb9a55a5966fa84dd42b3837b Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 12:12:39 +0100 Subject: [PATCH 08/16] Rename bip-tbd.mediawiki to bip-9999.mediawiki --- bip-tbd.mediawiki => bip-9999.mediawiki | 0 1 file changed, 0 insertions(+), 0 deletions(-) rename bip-tbd.mediawiki => bip-9999.mediawiki (100%) diff --git a/bip-tbd.mediawiki b/bip-9999.mediawiki similarity index 100% rename from bip-tbd.mediawiki rename to bip-9999.mediawiki From 54b9dae803083198ae7d866c0637e48463e17915 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sat, 12 Apr 2025 14:07:45 +0100 Subject: [PATCH 09/16] Update bip-9999.mediawiki add placeholder number to attempt passing auto tests --- bip-9999.mediawiki | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/bip-9999.mediawiki b/bip-9999.mediawiki index ae3e1c96b2..07b793625b 100644 --- a/bip-9999.mediawiki +++ b/bip-9999.mediawiki @@ -1,5 +1,5 @@ 
-BIP: ?
+BIP: 9999
 Title: Redefinition of the Bitcoin Unit to the Base Denomination
 Author: John Carvalho 
 Status: Draft

From c58684e296ea28e14340488b460d2e1b2a2b6a0a Mon Sep 17 00:00:00 2001
From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com>
Date: Sat, 12 Apr 2025 14:10:26 +0100
Subject: [PATCH 10/16] for the tests

scrub metadata to attempt to pass test
---
 bip-9999.mediawiki | 1 +
 1 file changed, 1 insertion(+)

diff --git a/bip-9999.mediawiki b/bip-9999.mediawiki
index 07b793625b..2e4627944e 100644
--- a/bip-9999.mediawiki
+++ b/bip-9999.mediawiki
@@ -8,6 +8,7 @@ Created: 2024-12-10
 License: CC0-1.0
+ ==Introduction== ===Abstract=== From 2d27bb63ea69dcc38368ac66579c733af34898ff Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sun, 13 Apr 2025 08:57:40 +0100 Subject: [PATCH 11/16] Update bip-9999.mediawiki Reviewer fixes Co-authored-by: Mark "Murch" Erhardt --- bip-9999.mediawiki | 15 ++++++++------- 1 file changed, 8 insertions(+), 7 deletions(-) diff --git a/bip-9999.mediawiki b/bip-9999.mediawiki index 2e4627944e..93dc55cccd 100644 --- a/bip-9999.mediawiki +++ b/bip-9999.mediawiki @@ -1,11 +1,12 @@ 
-BIP: 9999
-Title: Redefinition of the Bitcoin Unit to the Base Denomination
-Author: John Carvalho 
-Status: Draft
-Type: Informational
-Created: 2024-12-10
-License: CC0-1.0
+  BIP: ?
+  Title: Redefinition of the Bitcoin Unit to the Base Denomination
+  Author: John Carvalho 
+  Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-?
+  Status: Draft
+  Type: Informational
+  Created: ?
+  License: CC0-1.0
From 1912d8d7edebe200099650f34b0578f972d68c47 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Sun, 13 Apr 2025 09:01:32 +0100 Subject: [PATCH 12/16] Update bip-9999.mediawiki edit formatting for Bits header --- bip-9999.mediawiki | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/bip-9999.mediawiki b/bip-9999.mediawiki index 93dc55cccd..e04c60b7b4 100644 --- a/bip-9999.mediawiki +++ b/bip-9999.mediawiki @@ -83,7 +83,8 @@ While the total count of base units is roughly 2.1 quadrillion, this proposal do ===Addressing Alternative Approaches=== -== Refuting the "Bits" Proposal ([https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki BIP 176]) +'''Refuting the "Bits" Proposal''' +([https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki BIP 176]) An alternative suggestion (BIP 176) proposes using "bits" to represent one-millionth of a bitcoin (100 satoshis). While this reduces the number of decimal places in certain contexts, it fails to fully address the core issues our BIP aims to solve: From 92831e11227769e48ab8cd0d81c0b5d2b2515955 Mon Sep 17 00:00:00 2001 From: "Mark \"Murch\" Erhardt" Date: Mon, 14 Apr 2025 07:56:34 -0700 Subject: [PATCH 13/16] Close code formatting tags --- bip-9999.mediawiki | 26 +++++++++++++------------- 1 file changed, 13 insertions(+), 13 deletions(-) diff --git a/bip-9999.mediawiki b/bip-9999.mediawiki index e04c60b7b4..bec377c7a6 100644 --- a/bip-9999.mediawiki +++ b/bip-9999.mediawiki @@ -43,25 +43,25 @@ By redefining the smallest unit as "one bitcoin," this BIP aligns user perceptio Example 1: - * Old display: 0.00010000 Bitcoin - * New display: ₿10,000 or 10,000 bitcoins or 0.00010000 BTC + * Old display: 0.00010000 Bitcoin + * New display: ₿10,000 or 10,000 bitcoins or 0.00010000 BTC Example 2: - * Old display: 10.23486 Bitcoin - * New display: ₿1,023,486,000 or 1,023,486,000 bitcoins or 10.23486 BTC + * Old display: 10.23486 Bitcoin + * New display: ₿1,023,486,000 or 1,023,486,000 bitcoins or 10.23486 BTC Example 3: - * Old display: 0.345 BTC - * New display: No changes required or ₿34,500,000 or 34,500,000 bitcoins + * Old display: 0.345 BTC + * New display: No changes required or ₿34,500,000 or 34,500,000 bitcoins -NOTE: Traditional number display abbreviations, like 2.5M for millions, are also optional. +NOTE: Traditional number display abbreviations, like 2.5M for millions, are also optional. '''Conversion:''' * Ledger and consensus rules remain unchanged. -* BTC as a currency code remains unchanged (1 BTC = 100,000,000 base units) +* BTC as a currency code remains unchanged (1 BTC = 100,000,000 base units) * Implementations adopting this standard MUST multiply previously displayed Bitcoin amounts by 100,000,000 to determine the new integer representation. ===Rationale=== @@ -107,7 +107,7 @@ In essence, while BIP 176 attempts to simplify small amount representations, i No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: * '''For Developers:''' - Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. + Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. * '''For Users:''' The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. @@ -127,10 +127,10 @@ Some wallets, such as Bitkit, have successfully adopted integer-only displays, d ===Test Vectors=== -* Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) -* Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) -* Old: 0.00500000 Bitcoin → New: ₿500,000 (or 500,000 bitcoins) -* Old: 0.005 BTC → New: 0.005 BTC (or ₿500,000 or 500,000 bitcoins) +* Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) +* Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) +* Old: 0.00500000 Bitcoin → New: ₿500,000 (or 500,000 bitcoins) +* Old: 0.005 BTC → New: 0.005 BTC (or ₿500,000 or 500,000 bitcoins) All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. From 862f5488dfaca72c0bcecd596fbbf87ae392f46c Mon Sep 17 00:00:00 2001 From: Murch Date: Wed, 23 Apr 2025 14:12:33 -0700 Subject: [PATCH 14/16] Assign BIP177: Redefine Bitcoin's Base Unit --- README.mediawiki | 7 +++++++ bip-9999.mediawiki => bip-0177.mediawiki | 8 ++++---- 2 files changed, 11 insertions(+), 4 deletions(-) rename bip-9999.mediawiki => bip-0177.mediawiki (98%) diff --git a/README.mediawiki b/README.mediawiki index 1934077759..8f9047c40f 100644 --- a/README.mediawiki +++ b/README.mediawiki @@ -939,6 +939,13 @@ Those proposing changes should consider that ultimately consent may rest with th | Informational | Draft |- +| [[bip-0177.mediawiki|177]] +| +| Redefine Bitcoin's Base Unit +| John Carvalho +| Informational +| Draft +|- | [[bip-0178.mediawiki|178]] | Applications | Version Extended WIF diff --git a/bip-9999.mediawiki b/bip-0177.mediawiki similarity index 98% rename from bip-9999.mediawiki rename to bip-0177.mediawiki index bec377c7a6..b8fbdd9022 100644 --- a/bip-9999.mediawiki +++ b/bip-0177.mediawiki @@ -1,11 +1,11 @@ 
-  BIP: ?
-  Title: Redefinition of the Bitcoin Unit to the Base Denomination
+  BIP: 177
+  Title: Redefine Bitcoin's Base Unit
   Author: John Carvalho 
-  Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-?
+  Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0177
   Status: Draft
   Type: Informational
-  Created: ?
+  Created: 2025-04-23
   License: CC0-1.0
From edc6a204bf8f12877e9e6d2a5362cc7191fb1b67 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Thu, 24 Apr 2025 16:35:15 +0100 Subject: [PATCH 15/16] Update bip-0177.mediawiki --- bip-0177.mediawiki | 32 ++++++++++++++++---------------- 1 file changed, 16 insertions(+), 16 deletions(-) diff --git a/bip-0177.mediawiki b/bip-0177.mediawiki index b8fbdd9022..490ee84e75 100644 --- a/bip-0177.mediawiki +++ b/bip-0177.mediawiki @@ -43,18 +43,18 @@ By redefining the smallest unit as "one bitcoin," this BIP aligns user perceptio Example 1: - * Old display: 0.00010000 Bitcoin - * New display: ₿10,000 or 10,000 bitcoins or 0.00010000 BTC +* Old display: 0.00010000 Bitcoin +* New display: ₿10,000 or 10,000 bitcoins or 0.00010000 BTC Example 2: - * Old display: 10.23486 Bitcoin - * New display: ₿1,023,486,000 or 1,023,486,000 bitcoins or 10.23486 BTC +* Old display: 10.23486 Bitcoin +* New display: ₿1,023,486,000 or 1,023,486,000 bitcoins or 10.23486 BTC Example 3: - * Old display: 0.345 BTC - * New display: No changes required or ₿34,500,000 or 34,500,000 bitcoins +* Old display: 0.345 BTC +* New display: No changes required or ₿34,500,000 or 34,500,000 bitcoins NOTE: Traditional number display abbreviations, like 2.5M for millions, are also optional. @@ -89,16 +89,16 @@ While the total count of base units is roughly 2.1 quadrillion, this proposal do An alternative suggestion (BIP 176) proposes using "bits" to represent one-millionth of a bitcoin (100 satoshis). While this reduces the number of decimal places in certain contexts, it fails to fully address the core issues our BIP aims to solve: 1. '''Persistent Decimal Mindset:''' - Using "bits" still retains a layered decimal approach, requiring users to think in terms of multiple denominations (BTC and bits). This shifts complexity rather than eliminating it. +Using "bits" still retains a layered decimal approach, requiring users to think in terms of multiple denominations (BTC and bits). This shifts complexity rather than eliminating it. 2. '''Inconsistent User Experience:''' - Users must learn to toggle between BTC for large amounts and bits for small amounts. Instead of providing a unified view of value, it fragments the user experience. +Users must learn to toggle between BTC for large amounts and bits for small amounts. Instead of providing a unified view of value, it fragments the user experience. 3. '''Incomplete Alignment with the Protocol’s Nature:''' - The "bits" proposal does not realign the displayed value with the integral nature of Bitcoin’s ledger. It continues to rely on fractional units, masking the fundamental integer-based accounting that Bitcoin employs. +The "bits" proposal does not realign the displayed value with the integral nature of Bitcoin’s ledger. It continues to rely on fractional units, masking the fundamental integer-based accounting that Bitcoin employs. 4. '''Not Permanently Future-Proof:''' - Though "bits" may simplify certain price ranges, future circumstances could demand additional denominations or scaling adjustments. Our integral approach resolves this problem entirely by making the smallest unit the standard measure, avoiding future fragmentation. +Though "bits" may simplify certain price ranges, future circumstances could demand additional denominations or scaling adjustments. Our integral approach resolves this problem entirely by making the smallest unit the standard measure, avoiding future fragmentation. In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. @@ -107,10 +107,10 @@ In essence, while BIP 176 attempts to simplify small amount representations, i No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: * '''For Developers:''' - Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. +Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. * '''For Users:''' - The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. +The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. ===Security Considerations=== @@ -127,10 +127,10 @@ Some wallets, such as Bitkit, have successfully adopted integer-only displays, d ===Test Vectors=== -* Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) -* Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) -* Old: 0.00500000 Bitcoin → New: ₿500,000 (or 500,000 bitcoins) -* Old: 0.005 BTC → New: 0.005 BTC (or ₿500,000 or 500,000 bitcoins) +* Old: 1.00000000 Bitcoin → New: ₿100,000,000 (or 100,000,000 bitcoins) +* Old: 0.00010000 Bitcoin → New: ₿10,000 (or 10,000 bitcoins) +* Old: 0.00500000 Bitcoin → New: ₿500,000 (or 500,000 bitcoins) +* Old: 0.005 BTC → New: 0.005 BTC (or ₿500,000 or 500,000 bitcoins) All formerly fractional representations now directly correspond to whole-number multiples of the smallest unit. From 9a8326225e2d9fd5257a9f03abe407aea9c65af9 Mon Sep 17 00:00:00 2001 From: John Carvalho <18273620+BitcoinErrorLog@users.noreply.github.com> Date: Thu, 24 Apr 2025 17:00:10 +0100 Subject: [PATCH 16/16] Update bip-0177.mediawiki to address "sats" Adds comments acknowledging and handling sats and satoshis --- bip-0177.mediawiki | 15 +++++++++++---- 1 file changed, 11 insertions(+), 4 deletions(-) diff --git a/bip-0177.mediawiki b/bip-0177.mediawiki index 490ee84e75..741c5ead4a 100644 --- a/bip-0177.mediawiki +++ b/bip-0177.mediawiki @@ -102,15 +102,22 @@ Though "bits" may simplify certain price ranges, future circumstances could dema In essence, while BIP 176 attempts to simplify small amount representations, it only replaces one decimal representation with another. By redefining "bitcoin" as the smallest indivisible unit, this BIP eliminates reliance on decimal fractions and separate denominations entirely, offering a clearer, more intuitive, and ultimately more durable solution. +===Handling the Terms “satoshi” and “sat”=== + +'''Background''' + +“Satoshi” (or its shorthand “sat”) emerged organically some years ago, to honour Bitcoin’s creator and to give a friendly name to the 100-millionth "fraction" of a bitcoin. +Over time “stacking sats” became a meme, and the term now appears in podcasts, apparel, and some wallet UIs. + +While culturally valuable, the term introduces an implicit second denomination layer that contradicts the goal of this BIP: a single, integral unit called simply "bitcoin". Of course this BIP cannot stop anyone from using any colloquial term they prefer, but this document exists to specify how to display Bitcoin's only units as "bitcoin" correctly. + ===Backward Compatibility=== No consensus rules are altered, and on-chain data remains unchanged. Differences arise solely in display formats: -* '''For Developers:''' -Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. +* '''For Developers:''' Update GUIs, APIs, and documentation to present values as integers. Remove references to fractional Bitcoin. BTC units remain unchanged. -* '''For Users:''' -The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. +* '''For Users:''' The actual value of holdings does not change. Transitional measures, such as dual displays or explanatory tooltips, can ease the adjustment period. ===Security Considerations===